International Assets Investment Management LLC lifted its holdings in Novartis AG (NYSE:NVS - Free Report) by 6,599.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,395 shares of the company's stock after buying an additional 147,165 shares during the quarter. International Assets Investment Management LLC's holdings in Novartis were worth $15,084,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its position in Novartis by 7.4% in the third quarter. Stratos Wealth Partners LTD. now owns 13,186 shares of the company's stock worth $1,343,000 after purchasing an additional 909 shares during the period. Grandfield & Dodd LLC raised its stake in shares of Novartis by 0.8% during the third quarter. Grandfield & Dodd LLC now owns 155,026 shares of the company's stock worth $15,791,000 after buying an additional 1,269 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Novartis by 2.9% during the third quarter. Brighton Jones LLC now owns 4,646 shares of the company's stock worth $473,000 after buying an additional 129 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in Novartis in the third quarter valued at approximately $211,000. Finally, NBT Bank N A NY boosted its stake in Novartis by 32.4% in the third quarter. NBT Bank N A NY now owns 26,635 shares of the company's stock valued at $2,713,000 after acquiring an additional 6,518 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.
Novartis Trading Down 0.1 %
Shares of NYSE:NVS traded down $0.07 during midday trading on Friday, hitting $97.27. The company had a trading volume of 1,045,674 shares, compared to its average volume of 1,908,977. The firm has a fifty day simple moving average of $97.35 and a 200 day simple moving average of $99.00. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The stock has a market cap of $198.82 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.56 and a beta of 0.53. Novartis AG has a 12 month low of $92.19 and a 12 month high of $108.78.
Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.11). The business had revenue of $11.42 billion for the quarter, compared to the consensus estimate of $11.69 billion. Novartis had a return on equity of 32.15% and a net margin of 31.33%. During the same quarter in the prior year, the firm posted $1.51 earnings per share. On average, analysts predict that Novartis AG will post 7.26 EPS for the current year.
Novartis Increases Dividend
The firm also recently announced an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were issued a dividend of $3.7772 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Novartis's previous annual dividend of $3.47. This represents a yield of 3.1%. Novartis's payout ratio is currently 32.79%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Morgan Stanley started coverage on Novartis in a research note on Tuesday, January 23rd. They issued an "equal weight" rating and a $114.00 price target on the stock. BMO Capital Markets raised their price target on Novartis from $114.00 to $116.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 24th.
Get Our Latest Research Report on NVS
About Novartis
(
Free Report)
Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.
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